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Updated about 2 months ago on . Most recent reply

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Ornela B.
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Tranferring home to LLC- Does the owner's Title policy extend?

Ornela B.
Posted

I am transferring ownership of a home to an LLC that I own 100% of. The property was originally deeded to me personally, but it will be conveyed to the LLC. My goal is to maintain and extend the existing Owner's Title Policy coverage to the LLC.

From my understanding, when this transfers happens the LLC is not covered under the initial Owner's Title policy but it might be covered through an Additional Insured Endorsement (T-26 Endorsement), which would amend the current Owner's Policy to include the LLC as an additional insured, as a successor in ownership.

Anyone has any experience with this? How have you handled this? Do you just go ahead with the transfer regardless of whether the Owner's Title policy extends? I am not getting any good answers from Title companies and I am sure I am not the only one that has this question. 

Any advice on this is greatly appreciated. Thanks.

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